Support Center

Price Sheets

Last Updated: Oct 06, 2017 03:14PM CDT
For setting the rates for the item we use a percentage based rate system.  I'll give you a quick walk-through of how it works:

Start with a price sheet.  Price sheets are created under Admin >  Price Sheets.  A price sheet is how you can set up the prices for all your inventory. You can add the % of the prices to the sheet as per hour, per days,per week and per months. In this way you can consistently apply the same price sheet to multiple items with different base prices and have all the items be consistently priced.  An example is helpful to illustrate this:
Suppose you have 3 items; a sandal, a shoe, and a boot.  They are priced as described in the following chart:
 
Period Sandal Shoe Boot
1 day $5.00 $10.00 $15.00
2 days $7.50 $15.00 $30.00
1 week $15.00 $30.00 $60.00
 
 
 
You'll notice that the Sandal and Shoe have different prices, but they have the same ratio between prices, so they can use a single price sheet between them.  I will need a different price sheet for the Boot (unless I decide that it would be wiser to consolidate my pricing by using a single price sheet for everything and just change its base rate*).
 
So I would go to Price Sheets and create a new price sheet (or edit an existing one) naming it "Small Shoe".
 
I would create a 1 day period with a rate of 100%
Then  a 2 day period with a rate of 150%
Then a 1 week period with a rate of 300%
 
Then on the item record for my sandal, I would set a base rate (on the rental tab) of $5.00 and I would add the "Small Shoe" price sheet on the Price Sheets tab.  Since this is my normal rate, I would not set any dates and would set a default priority of 10. (This will allow me to later pre-define special holiday rates with a holiday price sheet if I wish that can have a higher priority but a limited date range). Now, after I save my item, the Sandal will correctly report prices of $5, $7.50, and $15 for 1 day 2 days and 1 week respectively.
 
Now I can follow the same steps for Shoes, set their base rate to $10.00 and apply the "Small Shoe" price sheet.  Shoes will automatically have prices of $10, $15, and $30 for the same periods.
 
Now I can decide if I want to create a different price sheet for boots, or not. 
 

If most of my items will use the Small Shoe price sheet, I can set it as my default price sheet, and then I don't even have to assign it as a price sheet to the items at all, it will be applied automatically.
 

NOTE: When creating a price sheet, if you have a very specific price that you absolutely need to meet exactly, the price sheet calculator widget will let you set your desired base price, your desired price for that period and will calculate the correct percentage to set.  (For example if your base price was 49.95, and you specified that you wanted a price for the period of 84.95, it would tell you that the percentage should be set to 170.07).  Just click the calculator icon next to the percentage field to activate the calculator.
 

* Our recommendation for best practice is to try to price items consistently (at least by category) and keep the number of different price sheets to a minimum.  This will offer many advantages to your business, not the least of which is the ability to adjust the pricing to reflect market norms for a whole range of items just by adjusting the price sheet they use.
 

Pricing is very flexible and more than likely we can teach the software how to automatically price your rentals no matter how you have them set up.  Feel free to reach out to us if you have a special situation.  
To handle the most common pricing for party rentals, we'll just make a simple edit to the Price Sheets.
 
If you only do party rentals then chances are you only have a single Price Sheet since all of your rentals are priced by the event instead of exact days.  To adjust the way pricing is calculated for these events, go pull up your Price Sheet that you use for your party items.  If you remove the 100% from the daily rate and then add a new rate period called "3 Day Rate" with the duration of "3 days," you can set its percentage to 100%.  This will mean that any rental between 1 and 3 days will get that Base Rate you set in the Pricing tab of the inventory item.

If you added a rate structure or duration that is incorrect or is no longer used, you can click the delete button next to the rate/duration and as long as this structure is not associated with any items or other price sheets, the rate will be removed. 
 


If the rate is linked to a different price sheet or surcharge, then you will receive a warning letting you know before it is deleted.  You will need to remove the surcharge and/or the percentage linked to the other price sheets for this rate before you can delete the rate.
 



 
Click Here and a support team member will be glad to walk you thru setting this up.  Or, click the live chat feature found to the bottom right of the screen to instantly chat with a support team member.  We know it can get a little difficult.

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